Illinois Compiled Statutes 50 ILCS 405 Local Government Debt Limitation Act. Section 1.15a

    (50 ILCS 405/1.15a) (from Ch. 85, par. 851.15a)

    Sec. 1.15a. The limitation prescribed in Section 1 of this Act shall not apply to any indebtedness incurred by sanitary districts organized under "An Act to create sanitary districts and to provide for sewage disposal and to provide for the annexation of additional territory to any such district and to authorize sanitary districts to acquire by purchase or construction and upon acquisition to maintain and operate a waterworks or drainage system and to improve and extend the same and issue general obligation bonds, revenue bonds or special assessment bonds to pay the cost thereof which revenue bonds shall be payable solely from the revenues of such waterworks or drainage system and to provide for a method of dissolution of such sanitary districts", approved July 2, 1936, as amended.

(Source: Laws 1965, p. 3682.)

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Last modified: February 18, 2015